An Inquiry Into the Nature and Causes of the Wealth of NationsSmith, Adam
General
An Inquiry Into the Nature and Causes of the Wealth of Nations
Smith, Adam
Economics
Every species of animals naturally multiplies in proportion to the means
of their subsistence, and no species can ever multiply beyond it. But in
civilized society, it is only among the inferior ranks of people that
the scantiness of subsistence can set limits to the further
multiplication of the human species; and it can do so in no other way
than by destroying a great part of the children which their fruitful
marriages produce.
The liberal reward of labour, by enabling them to provide better for
their children, and consequently to bring up a greater number, naturally
tends to widen and extend those limits. It deserves to be remarked, too,
that it necessarily does this as nearly as possible in the proportion
which the demand for labour requires. If this demand is continually
increasing, the reward of labour must necessarily encourage in such a
manner the marriage and multiplication of labourers, as may enable them
to supply that continually increasing demand by a continually increasing
population. If the reward should at any time be less than what was
requisite for this purpose, the deficiency of hands would soon raise it;
and if it should at any time be more, their excessive multiplication
would soon lower it to this necessary rate. The market would be so much
understocked with labour in the one case, and so much overstocked in the
other, as would soon force back its price to that proper rate which the
circumstances of the society required. It is in this manner that the
demand for men, like that for any other commodity, necessarily regulates
the production of men, quickens it when it goes on too slowly, and stops
it when it advances too fast. It is this demand which regulates and
determines the state of propagation in all the different countries of
the world; in North America, in Europe, and in China; which renders it
rapidly progressive in the first, slow and gradual in the second, and
altogether stationary in the last.
Public-domain text, read in full here on John Shaqi.
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